Comments on: Detroit Bailout

By: Greg0658

Greg0658 — Fri, 05 Dec 2008 15:09:19 +0000

Rockford IL Rep Manzullo in hearing reveals:
General Motors wants to become a BANK with checking account status

Wow – talkin duplicity – what do we need CNBC for?
TV is for Herding – not for full unbiased information

Now I understand the Bull / Bear analogy:
Cowboys herd the cattle, (the Bulls) into a deadend canyon so the hibernating Bears can awake and devour them

By: Greg0658

Greg0658 — Fri, 05 Dec 2008 13:03:16 +0000

Should John Snow have been there to answered the question of why Cerberus is not infusing?
answer:
if GM and Ford is getting a 2% loan from the taxpayers – fair is fair – same boat – my shareholders have ponyed up already

on the “floor plan”:
I forget who had over 120Bil of manufactured stock out in the dealerships -
I didn’t quite understand that process – those are on loan right? – so the market price for the manufacturers is wacked out? Agreed?

This whole mess is to bail on retirement packages!

and:
who is manipulating oil prices?
Santa Claus for North Poles Dec24th delivery?
Car manufacturers for gasoline powered products – how many billion units are in the lots between the Big3 and the other foreigners?
Or is it marketeers for a daily paycheck?
Or is it the DoD to pay for a war?

What ever … the consumer pays!
Family … a Christmas card and a ham for you’s – don’t get me nothin.
http://www.youtube.com/watch?v=1yfQVWHnfcU

By: Neil C Denver

Neil C Denver — Fri, 05 Dec 2008 04:25:28 +0000

One thing that Congress should ask for is the ’strategic assessment’ that each auto company wrote for each of the past five years. If Congress spontaneously asked that question tomorrow and required faxed copies of those documents within two hours, we might be able to see how the auto execs actually viewed their situation. This might trap out the BSers.

By: RiskAverseAlert

RiskAverseAlert — Fri, 05 Dec 2008 04:24:15 +0000

The vulnerability of the premier manufacturing industry in the U.S. has done well to demonstrate two things…

1. The financial system is bankrupt. Were this not so, the auto execs would not be on their knees.

2. The names of fascists among us have become known by their calls for busting up the UAW, in similar fashion as their European predecessors attacked labor unions back in the 20s and 30s.

By: John Pozzi

John Pozzi — Fri, 05 Dec 2008 03:49:42 +0000

The solution is the Global Resource Bank at http://www.grb.net

By: Stuart

Stuart — Thu, 04 Dec 2008 20:32:29 +0000

They should take the home addresses of every lawmaker responsible for passing the bailouts for all financial firms, home addresses for all the Sr. Execs of each financial firm, especially AIG, that was a recipient of a Govt bailout and hand them out to each autoworker, each parts dealer, each parts supplier, and anyone else who derives their livelihood from the auto industry.

By: Greg0658

Greg0658 — Thu, 04 Dec 2008 19:49:33 +0000

Sen Corker touts Japans Toyota marketcap at over $100Bil and the Detroit Big3 under $10Bil. So why offer loans of $35 Bil? What could I say that would create a market selloff of Toyota in a short period? That would set a real price of Toyota ie: land value, tools and manufactured product on hand. That is how rational that statement is.

Corker talking his book for TN, AL and Miss.

http://southcentral.construction.com/news/ms/archive/2008/01.asp
“Contractors began moving the earth on Sept. 1, coinciding with the start of foundation and structural steel construction. SSOE is providing full architecture and engineering services for the facility, which will produce the Toyota Highlander sport … The Blue Springs, Miss., earthwork package represents four times more earth moved in less time than any other Toyota project in North America … The 2.4-million-sq-ft facility that will be constructed on the 1,700-acre site is expected to be operational by 2010 and house 2,000 employees. At a total cost of approximately $1.3 billion, the facility is expected to produce 150,000 vehicles per year and will include stamping, welding, painting and assembly.”

I understand his position. Toyota can pull the full out plans on above at will. Then how do those TIF plans get a payback? Locally we have a concrete re-inforcing wire weld product that needs a electrical substation upgrade while the cement plants are laying off and shutting down, temp I hope.

I repeat last line from 1st post. “Bottom line is Wall Street spent the investment savings of those promised retirement benefits. The accounts need to reflect that.” Bankruptcy or these dire straits is the … for every action there is an opposite and equal reaction.

By: MikeBC

MikeBC — Thu, 04 Dec 2008 18:34:56 +0000

My Big 3 solution:
Wipe out equity, cram outstanding debt down to equal 49% of common stock, give workers 51% ownership and control of the board, and let them fire existing management and hire competent management. Bingo, no more management/labor conflict. What workers don’t get as salary they’ll get as dividends.

By: Pete

Pete — Thu, 04 Dec 2008 18:26:19 +0000

I agree with the previous comments about the Big 3 bailouts vs Wall Street . However, I think $34 is just the beginning . The UAW (Job bank , healthcare, and pensom programs) is the Achillies’ heel for for the Big 3 .

http://finance.yahoo.com/tech-ticker/article/138879/Roubini-Bail-Out-the-Automakers-But-Only-on-These-Conditions…?tickers=F,GM,^DJI,^GSPC,TEN,TRW,GT

By: Greg0658

Greg0658 — Thu, 04 Dec 2008 17:49:00 +0000

more on this …
Cspan airs COO Wandell of Johnson Controls empassioned plea for bridge loan, while CNBC chats (altho I’ll add I’m not much in for duplicity)

On the 95% pay package for laid-off UAW workers … let that program disolve and enroll in your states Unemployment Benefits package … go the American way and spread out the cost socially.